Personal Banking

BillPay FAQ

1. What is BillPay?
BillPay is an online bill payment service that allows you to pay your bills from your SharePoint Credit Union Advantage Checking account. You have full control of the payment process, you can choose to make single payments as they are due, or set up payments to process automatically on a certain day each month. 

2. What is the cost for this service?
As a benefit of SharePoint Credit Union Membership, BillPay is FREE!

3. What accounts can I pay my bills from?
You can pay your bills from your SharePoint Credit Union Advantage Checking account.  This service is not available from your Savings or Money Market account.

4. How quickly does the payee receive my payment once it is processed?
When SharePoint Credit Union receives a payment instruction, you authorize it to charge your checking account and remit funds on your behalf so that the funds arrive as close to the business day designated by you as reasonably possible. Payments are sent either electronically or by check, based on whether the payee accepts electronic payments. Although the payee will typically receive the payment in 3-7 business days, please allow for at least 7 business days before the actual due date, not the late date. While it is anticipated that most transactions will be completed on the exact day designated, it is understood that due to circumstances beyond the control of SharePoint Credit Union, particularly delays in handling and posting payments slow-responding companies or financial institutions, some transactions may take a day or even a few days longer.

5. How do I know if my payment is sent electronically or by check?
There is no way to know if a check payment or electronic payment is sent.

6. How do I get started?
1. Log on to Internet Banking and click on the "Bill Payments tab".
2. Once one or more payees are added, you may begin using "BillPay".

7. How soon can a payment be set up after a payee has been added?
A payment can be set up immediately after a payee has been added.

8. Is there a limit to how many bill payment transactions I can schedule each month?
You can schedule an unlimited number of payments each month; make as many payments as you need.

9. How far in advance can I schedule a payment?
Recurring payments can be scheduled up to one year in advance.

10. Can I change or cancel a scheduled bill payment?
You must cancel the payment by no later than 3 PM (central time), on the Payment date, by using the DELETE function on the Internet Banking "Pending Payment" screen.

11. Is there anyone I cannot pay through BillPay?
You may pay any merchant or individual through the use of SharePoint Credit Union BillPay. We are unable to process any payment of taxes or court-directed payments through the SharePoint Credit Union BillPay. (This exclusion includes court-ordered payments, state and federal tax payments and international payments.)

12. Can I receive my bills online?
You will continue to receive your paper bill in the mail; this service only allows you to pay your bills online.

13. When will the funds actually come out of my account?
Funds will come out of your account on the scheduled payment date; usually anytime after 8:00 p.m.

14. What will a BillPay transaction look like on my account statement?
BillPay transactions will show up as "online" and will note the name of the Payee (as you set it up in BillPay) and the amount.

15. What happens if I donít have enough funds in my account to cover a payment?
Payments will not be made if funds are not available in your Advantage Checking account.

16. What if my payment is returned, unpaid?
To ensure payments, periodically verify that the address for your payee is correct and up to date. Then update the correct information on your payment information. BillPay will not be notified of new billing information, consult your payee for mailing addresses and account information.

17. Is there a limit to the amount that I can pay on any one bill?
The maximum amount you can pay on any one bill is $9,999.00.

18. Can I get a copy of a BillPay check?
You can request a copy of a BillPay check for a nominal fee.

19. How do I cancel my BillPay service?
Since BillPay is a benefit of Membership and is offered as a free service, it is not necessary to cancel. Simply do not schedule payments if you no longer wish to use the service and cancel all future bill payments you have set up to be paid. Yet, your BillPay service will remain accessible to you whenever you choose to use it.

20. Who should I talk to if I have additional questions?
Please contact an SharePoint Credit Union Member Service Representative at (952) 930-0700 or (800) 752-3494, or stop by one of our branch locations.


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